pNetwork Unchained - community discussion

Discussion
1

Dear pNetwork Community,

The pNetwork Community Association is finally ready to share a preliminary proposal outlining our vision for the future of the pNetwork. This document, which includes strategic updates and introduces Multiproof Lab, intends to take pNetwork into its next phase of growth and innovation.

Key highlights of the proposal:

  • Strategic Pivot to pNetwork v3: A leaner, more efficient approach to achieving full decentralisation.
  • Launch of Multiproof Lab: An initiative to explore cutting-edge blockchain technologies and open new avenues for growth.

This proposal is deliberately not final. We believe that the best way forward is one that is informed by the insights and feedback of the community. Your input will be invaluable in refining our strategy and ensuring that it is in line with both the evolution of the market and the desire of our community.

In the coming days, after gathering your initial feedback, we plan to iterate on this document, resulting in an updated proposal that reflects our collective vision. We’re also organising a community call - the first in a series - to discuss these plans in more detail, answer your questions, and ensure our alignment.

We invite you to review the proposal, share your thoughts in the forum, comment on the document, and participate in the community call.

Read and contribute to the document here: [shared] pNetwork unchained - v0.1 - Google Docs

Thank you to all of you who will be contributing at this pivotal moment!

2 Likes
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Good project. I thinks we are good develop and BINANCE Is cancel delist

1 Like
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Crossposting this from Telegram. Here are initiatives I think could be done to help with getting Liquidity for PNT.

Effect DAO - pNetwork DAO EFX/PNT Collab
https://dao.effect.network/proposals/157

Effect DAO will be voting on a proposal that will result in 2 million EFX being allocated for an EFX/PNT pool. The idea is both DAOs provide the tokens, then the respective Foundations work together to stake them in a pool on PancakeSwap. I believe this will require printing ~3-4 million PNT. If this proposal passes, it will be on pNetwork DAO to pass it’s own proposal linking to it and printing the PNT necessary for the initiative.

PNT Farm Rewards for a PNT/USDT pool on PancakeSwap
https://dexscreener.com/bsc/0x638f30eb5f084b0f8b4aa162d0507473c3babc6c

I’ve put up $15k of LP in a PNT/USDT LP, it would be nice if there were incentives to encourage more participation in this pool. Perhaps ~500,000 PNT over a 3 month period?

Using pNetwork DAO’s Arbitrium

The DAO has 74,900 ARB in it’s treasury. This could be very useful to build up a very strong pool combined with PNT inflation. For example, it can be sold for ~$110,000 and 4.5 Million PNT could be printed to make a very strong LP pool on any target chain. This can also be split up among multiple chains to encourage arbitrage between the chains pNetwork works on.

Alternatively, it is unclear for now what Binance will do with the PNT tokens that remain after the withdrawal period ends. If Binance wants to sell these PNT to pNetwork, perhaps the ARB can be used to purchase them. It needs to be learned what Binance does with tokens that remain after a withdrawal period ends.

Reaching out to Telos

Telos is the largest customer of pNetwork bridging services. It’s possible the Telos foundation may have grants available for work to do, or otherwise be interested in creating TELOS/PNT pairs across different chains. Contacts for Telos should be hit up to see if any of this is a possibility.

With those initiatives in mind, the DAO will need to print a lot of PNT to be able to create Liquidity pools. The team will likely need to go in a hibernation mode, where expenses are kept minimal to support Bridge clients and maintenance. In the meanwhile Liquidity pools will be established in these coming months.

I think that Multiproof Labs should work as a sort of consultants seeking out client work that need not necessarily be related to pNetwork. It would be preferable if the team working on pNetwork remains together working on it as a part-time initiative, while they’re able to complete contracts and grants for others in the meanwhile as the recovery process from the BInance delisting crash occurs. Basically, maintain the team working as consultants, such that in the future when there is a recovery the team can transition back to primarily work on pNetwork.

In my opinion, Binance delisting has just created an environment of fear and until people feel that it’s finally “over” they won’t be that confident in PNT. The people most likely to want PNT to succeed will be the customers that use it’s bridging services themselves, so reaching out to all of them would be a good idea.

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pNetwork Community Call Recap - Thursday, April 2nd

Hello pNetwork community,

Thank you to everyone who joined us for last Thursday’s Community Call. It was a lively session that sparked some really interesting conversations among our members. For those who couldn’t make it, we’ve attached the presentation here so you can catch up on all the details discussed.

Pitch deck link: pNetwork Unchained - 1st CC

Community Feedback and Suggestions:

Emanuele:

  • Advocated for PNT to be listed on new CEXs and for new trending chains to be integrated to increase pNetwork’s reach.
  • Emphasized that pNetwork is now undervalued and suggested creating new use cases to create buying pressure for PNT.
  • Did not favour PancakeSwap but recommended exploring the Solana ecosystem.
  • He was positive about Multiproof Lab and suggested a possible token launch to return value to PNT holders.

Djstrikanova:

  • Shared the survival story of EFX after Kucoin’s delisting, emphasized positive outcomes for pNetwork as well.
  • Suggested creating and incentivising an LP on the BNB chain to increase arbitrage opportunities.
  • Specifically, he suggested increasing liquidity on PancakeSwap through an incentivised EFX-PNT LP funded by both pNetwork DAO and EffectDAO.
  • Mentioned EFX’s use of pNetwork for cross-chain movement from EOS to BNB chain, and use Wormhole from BNB chain to Solana ecosystem.
  • Recommended proposing another LP in collaboration with Telos.

Warren:

  • Noted that Gate.io may become a secondary market following the delisting of Binance, potentially reducing volume.
  • Suggested creating an LP on a low-cost DEX to maintain liquidity.

Thomas:

  • Expressed support for Multiproof Lab, noting that some aspects still need to be worked out.
  • Advised against a premature token lunch for Multiproof Lab, emphasizing the need for utility and suggesting that the DAO decide on the airdrop logic for this future token, potentially engaging more DAO members.
  • Questioned whether the reduced cost of $50,000 was sufficient or whether a temporary freeze on development would be more prudent.
  • Cautioned against setting up LPs on the BNB chain due to potential conflicts with other CEXs, and suggested that more independent chains such as Polygon might be a better option.

As said during the call, community feedback is crucial. The pNetwork Community Association is listening and will use your input to improve our plans. Expect more updates soon, and thanks for your support and participation.

Stay tuned for another community call within the next week or two, scheduled for a different day and time to allow more members to join.

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As Thomas stated a freeze will need to happen. There simply isn’t enough liquidity to sustain the burn the pNetwork team wrote out in it’s sustainability plan. I think the entity Multiproof Lab should be established as one that has pNetwork as a permanent partner, but not the only partner. A minimum amount of bridge support can be established, but Multiproof lab should seek out grants and contracts to sustain it’s own team independently. Perhaps even building specialized bridges for projects independent of pNetwork. Anything really to generate revenue.

All association funds should be used for this endeavor, I think the biggest priority is keeping the team together and also keeping the bridge maintained. So a plan needs to prioritize those two things. I think the current price is the result of Binance users just cutting their losses and the dust can’t truly settle until the withdrawal period ends. All development work should just be paused, such as DAO v3. All effort focused on finding and attaining clients for Multiproof lab.

While Multiproof Lab seeks client work and is in “hibernation”, PNT should be printed to be used in Liquidity pools such as the EFX/PNT pool. If the team exists and can work on pNetwork part-time with it’s own existence not being completely dependent on pNetwork DAO funding, it will put pNetwork in a much more sustainable future. Even if a lot of pNetwork specific development is sacrificed, it’s better to keep most of the team that built everything together so they can be reactivated in a better environment down the line when all the dust settles.